Intrepid acknowledges how unplanned expenses can wreak havoc on your business. You know how important consistent working capital is to help your business grow.
Even successful startups encounter delayed invoice payments, unexpected production costs, and unplanned situations when cash flow is low. To overcome these short-term happenings, the availability of extra funds can give you a helping hand. A business line of credit can surely do the job for you to cover the cash uncertainties.
Surviving crucial times for your business sounds downright impossible, but having access to some extra funds can save the business from falling apart. For business financing, extra funds can be secured. You have options to consider for your business.
You can access extra money “on-demand” with a line of credit. A Line of Credit helps with expenses like inventory or workshop maintenance.
Intrepid offers a line of credit to your business. Once you are qualified, you can draw up to a predetermined maximum amount for your business for a specific time period. After paying off the borrowed funds, you can have the amount back in your line of credit again.
Here’s a tip if you are interested in applying for a line of credit for your business, ‘pay off what you borrow on time.’
Intrepid facilitates the most flexible way to fund your business operations. Each withdrawal starts a new repayment period, which means you can withdraw funds at any time. These loans are designed to help businesses finance short term working capital needs such as:
Check your eligibility here and start your application process.
Get in touch with our experts for your business.
Get the desired funds you need for your business.
Dive into the following reasons and decide if a Line of Credit is Ideal for Your Business.
Flexibility is one of the primary benefits of this kind of lending option. Once your application gets approved, then you can always draw funds.
Only pay the interest on the used part of the credit. You won’t be charged any interest for unused funds.
Line of credit tends to offer lower interest rates as compared to other business financing options.
Effective businesses require a certain amount of working capital to fund their operations. However, working capital may not always be available when needed. For example, you acquire new equipment for your business in an urgent situation, or you are waiting for the invoices to get paid. Events like these can have an adverse effect on the cash flow and even threaten your business’s stable reputation.
With Intrepid as your finance partner, you can handle unanticipated challenges with sheer confidence, knowing you have access to the capital. Line of credit is a tool to skyrocket your business’s growth.
You can freely utilize funds for:
If you are the person who is looking for ways to expand their small business, then a line of credit seems a good option. A Line of Credit works well to situations like;
Different lenders, banks, and traditional loan providers have their own terms and conditions. Approval mostly depends on the type of services you are using. Only a professional expert from a bank or lender can guide you by examining your circumstances. Contact us, and we will help you get the best fit option that matches your current needs.
A secured loan means that a piece of collateral is being used to back up the loan. The office is usually used as collateral for commercial mortgages. Assets such as inventory, heavy machinery, and real estate can be used as collateral for small business loans. The interest rate on secured loans for small businesses is generally lower than that on unsecured loans.
Lines of credit that are unsecured consist of no collateral backing the financing. Lenders need to ensure that the borrower will be able to repay the credit, so they often require more stringent criteria and charge higher interest rates.
Give us a call to see out how we can help.
Intrepid provides a frictionless financial solution to support your business.
We can help businesses get the capital they need.
Are you ready to access the capital you need to grow your business?
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